Tax practice

As thousands of CPA firms across the country embark on that annual ritual known as filing season, more and more practices are looking toward document management and workflow solutions to ease the ensuing crush of paper.

Senator Jack Reed, D-R.I., has written letters to the heads of the Financial Accounting Standards Board and the International Accounting Standards Board asking how to improve the transparency of the types of assets linked to subprime mortgages.

The Internal Revenue Service said that even people who do not normally file tax returns because of their low incomes would need to file this year in order to receive an economic stimulus payment.

Accounting firm Marks Paneth & Shron has unveiled a series of recommendations for coping with the tightening economy.

Amazon.com has come out fighting against New York State Governor Eliot Spitzer's proposal to tax online sales.

As thousands of CPA firms across the country embark on that annual ritual known as filing season, more and more practices are looking toward document management and workflow solutions to ease the ensuing crush of paper.

The House Committee on Small Business held a hearing on business activity taxes and their impact on small businesses.

On a day when Treasury Secretary Henry Paulson and six major banks announced a 30-day moratorium on foreclosures on some types of property, the Internal Revenue Service said homeowners whose mortgage debts were partially or entirely forgiven could claim relief on a newly revised IRS form.

Now that clients have received their W-2 forms from their employers, we’re starting to get into the main part of tax season.

The Internal Revenue Service has released the Corporation Source Book, which presents balance sheet, income statement, tax and other statistics across various industrial sectors.

IRS BEEFS UP TAXPAYER PRIVACY

The Internal Revenue Service hopes that new interim guidance for tax preparers will ease concerns over the expanded preparer penalties and heightened standards of conduct that must be met to avoid the penalties.

The Mortgage Forgiveness Debt Relief Act of 2007 has introduced a new paradigm of tax strategies for those who are falling behind on their home mortgage payments (or anticipate falling behind as the result of a pending adjustable rate mortgage reset).

President Bush said he would sign into law the economic stimulus package passed by Congress.

The Internal Revenue Service has improved its online refund-tracking tool and tax information publication.

A survey of leading corporate tax executives predicts that taxes will not be a major issue in Congress in 2008, apart from the one-year alternative minimum tax patch and the one-year extenders package.

The Senate and the House have passed an economic stimulus package that adds tax rebates for 20 million senior citizens and 250,000 disabled veterans to a package passed by the House last week.

The Social Security Administration and the Internal Revenue Service have moved several boxes on Form W-2.

The White House has issued its budget for the coming year, and as usual it is already drawing complaints.

The Bush administration's budget proposals include a number of tax provisions, so the Treasury Department has released an explanation of the fiscal year 2009 revenue proposals, also known as the Bluebook.